World Bank Managing Director of Operations Axel van Trotsenburg speaks during an interview with Reuters in Sarajevo, Bosnia and Herzegovina, September 14, 2022. REUTERS/Dado Ruvic/File Photo
Zambia has become a test case for the G20-led "Common Framework" restructuring vehicle launched during COVID-19 to streamline debt restructuring efforts as poorer countries buckle under the fallout from the pandemic hit. It aims to include non-Paris club members, such as China, in debt relief talks. "Take the Zambia case, but this will come up in Sri Lanka - we need to have a serious discussion on lending into arrears by financial institutions," he added.
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